finishing school
IGNOU’s Finishing School Employability Initiative The shortage of skilled labour and employable talent pool led to IGNOU’s Finishing School Initiative where attempts have been made to address the issue by collaborating with country’s best training partners By Neeta Kapai
A
globally acclaimed fact today is that scientific and technological capability of human resources is the major source of strength for all round economic growth and nation building. Consequently, success of an industry would depend on the quality of its work force. Currently, though India is brimming with employment opportunities across industry domains and verticals, there is a tremendous shortage in terms of skilled manpower. It is also euphoric about its demographic dividend since its working-age population (15-59 years) largely consists of youth (15-34 years) who can contribute as potential economic drivers of our country. As per an ILO report, in the next 20 years, only 19 percent Indians will be above 65yrs compared to 39 percent in the US, 53 percent in Germany and 67
48
www.digitalLEARNING.in
percent in Japan with an estimated manpower increase of 135 million by 2050, according to United Nations; India will enjoy this demographic sweet spot only up to 2035. Hence converting this demographic dividend into a development dividend is inevitable and possible only by linking education to employability, aptly supported by 270 million appropriate jobs and placement opportunities. India’s rich demographic dividend is as much an opportunity as it is a challenge. By 2026, our country is estimated to harbor a working population of 800 million youth of which, only 30-35 percent is expected to be employed by the agriculture sector with the remaining to be absorbed by other emerging market driven sectors. The direction and pace at which education and formal skills training is imparted to our growing young
population, will define whether it is an opportunity or a bane. In other words, ‘Education for Employability’ will be the key indicator and growth enabler. Indian economy is going through a growth spurt with several sectors posting large manpower requirements at entry-level and lateral-levels. Supply of employable human resources to certain high growth sectors such as IT, Banking, Finance and Insurance sectors is happening at a much slower rate resulting in demand-supply challenges to meet recruitment targets due to mismatch between skills acquired by job aspirants and skills required in that sector. While domain-specific employable skills require continuous upgrading, they differ across industries. Generic employable skills on the other hand are though common to all industries, require